Supplier Rating Definition
Each business has their own definition of what a supplier rating is and how it’s used. A supplier rating system is used to evaluate the qualitative and quantitative performance of suppliers. This helps companies to determine if their suppliers are meeting their expectations.
A supplier’s rating is based on many factors including quality, delivery, cost, customer service, etc. We take all of these factors into consideration when giving a supplier a rating. Some also compare a suppliers performance to other suppliers in the industry to get an idea of where they stand.
A supplier rating is important because it helps keep track of supplier’s performance over time.
